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    Bitcoin Daily Discussion, July 14, 2021

    Bitcoin Daily Discussion, July 14, 2021


    Daily Discussion, July 14, 2021

    Posted: 13 Jul 2021 10:09 PM PDT

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Just sent .25BTC ($8,053) for fee of 0.00003240($1.06) received in 2mins.

    Posted: 13 Jul 2021 04:39 PM PDT

    Too slow? What?! Too expensive? What?!

    submitted by /u/donmulatito
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    Inflation climbs higher than expected in June as price index rises 5.4%

    Posted: 13 Jul 2021 05:51 AM PDT

    EXPOSED: Tesla lost its carbon credits market in Europe so it's trying to create a renewable credits market by attacking Bitcoin mining

    Posted: 14 Jul 2021 12:44 AM PDT

    EXPOSED: Tesla lost its carbon credits market in Europe so it's trying to create a renewable credits market by attacking Bitcoin mining

    I'm going to try to explain Elon Musk's seemingly "big brain" but actually pretty dumb gambit with regards to Bitcoin mining. Note carefully the dates on each development in the story.

    Why did Tesla buy $1.5 billion worth of Bitcoin?

    Couple of factors - one short-term and one long-term.

    Short-term play - Tesla's production was halted due to supply chain effects from the pandemic. This is why there has been a lot of delivery delays this year. This meant that Tesla's shrinking profits from selling carbon credits to other carmakers alone wasn't enough to post a profitable quarter. So Tesla decided to buy Bitcoin and then sell some of it before the end of the quarter to make up for the shortfall.

    Bitcoin purchase ensured profitable Q1 2021 for Tesla

    Long-term play - The reason for Tesla's revenue from carbon credits sales shrinking is that European carmakers are shifting focus to EV themselves, meaning they no longer need to purchase credits from Tesla to comply with strict emissions regulations in the EU.

    2020 was Tesla's first-ever net-positive year thanks to soaring carbon credits sales

    But that source of revenue is now shrinking (May 6)

    So Tesla now needs to make up for this potentially permanent revenue loss. What do they do?

    One day before Elon Musk tweeted that Tesla would no longer accept Bitcoin payments due to "rapidly increasing use of fossil fuels for Bitcoin mining and transactions", Tesla applied for renewable credits certificate from the EPA.

    Tesla applied for renewable credits one day before Bitcoin mining FUD (May 12)

    Unlike carbon credits, the EPA's renewable credits can be sold in the open market to ANY industry. Elon figured he could create a new renewable credits market out of Bitcoin mining.

    Too bad for Elon Bitcoin mining uses 4x higher than the average share of renewables in the US (56%)

    The dumbest part of all this has to be the use of "and transactions" because no incremental energy is used for transactions. This guy frankly has zero understanding of how Bitcoin works.

    Personally, I don't think he cares to understand. Notice how he's trying to hijack dog coin and turn it into PayPal.

    Bitcoin does not benefit beneficiaries of the fiat pyramid scheme. Tax-dodging billionaires who get free money from the government making the rest of our money worth less are at the top of the pyramid and they're loving it! (credit iTruth84)

    Billionaires reap all the benefits from inflation. All the ill effects are dumped on us!

    submitted by /u/xcryptogurux
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    Cash App now allows custom orders

    Posted: 13 Jul 2021 07:06 PM PDT

    Nuclear-powered bitcoin mining is coming to Ohio in December

    Posted: 13 Jul 2021 03:29 PM PDT

    Are you checking the Bitcoin price too much?

    Posted: 13 Jul 2021 08:53 PM PDT

    Are you checking the Bitcoin price too much? I think we can all relate to this. It's a meme to check all the time. But is it healthy? Probably not. How often is correct to check, and how to actually do this?

    I'm not gonna share my full story but it's like many of yours. At first I checked all the time to track dips to deploy my funds. But once my money was invested the behavior persisted. I had no intention of how often to check, so it just kind of happened. Dozens of times a day. See green, be happy, see red, heart starts pounding and feel bad. All day every day. Very distracting!

    I'll suggest the correct frequency to check the Bitcoin price is once per day. Never checking your money is irresponsible. Checking once a day is reasonable. And there's something magic about once a day. It gives you a small thing to look forward to and something to practice delaying gratification. Will you check first thing in the morning? Probably not, you'll want to push it back until later in the day.

    If you are in Bitcoin, you're going to have to delay gratification. It can take years to make significant returns or even be in the green. So you can wait one day to check. It's good practice.

    Thoughts?

    submitted by /u/That_Strength_3735
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    Inflation Is Rampant. Is It Time to Buy Bitcoin?

    Posted: 13 Jul 2021 07:31 PM PDT

    Visa Approves Australian Startup to Issue Debit Cards for Spending Bitcoin

    Posted: 13 Jul 2021 09:08 PM PDT

    Bitcoin Whales Move 3,129BTC And 1,000BTC From Binance and Coinbase To wallets.

    Posted: 14 Jul 2021 02:13 AM PDT

    You dont get it untill you try Lightning, here are your free 21 Sats. Requesting mods to be tolerant.

    Posted: 14 Jul 2021 12:18 AM PDT

    step 1 : explain your favourite part of technology of Bitcoin

    step 2 : create and share QR invoice for 21 sats (using any lightning wallet of your choice)

    step 3 : I will fulfil that invoice

    ps. hoping this would be a fun experiment for NEWBIEs and to give back 500 sats given to me here.

    Edit : some of the good folks here are fulfilling invoices as well! Love this community.

    submitted by /u/turnedtable_
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    Bitcoin was the worst performing asset in 2014...

    Posted: 13 Jul 2021 11:33 PM PDT

    Bitcoin was the worst performing asset in 2014...

    In 2013 Bitcoin was the best performing asset. In 2014 it was the worst, things felt bad in 2014, the gloomy news was everywhere, Bitcoin 'died' more times in 2014 than ever before.

    But I bet you still wish you had invested hard in 2014 when the price was £250.
    Remember the best time to stack is when everyone else has forgotten about it.

    Source ycharts

    submitted by /u/Captain_Planet
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    told you all last week: We rich Bitcoin assholes will buy out the world and make them all integrate Bitcoin, just as the previous internet rich assholes bought out the world and made them all integrate PayPal, Google, and Facebook, etc

    Posted: 14 Jul 2021 01:19 AM PDT

    Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity

    Posted: 13 Jul 2021 05:15 AM PDT

    Nigerian Bitcoin Trading Volume At Highest Despite Central Bank Restrictions!

    Posted: 14 Jul 2021 02:02 AM PDT

    Recently we launched a Startup ( in Europe ) and outsourced the development to developers from Iran and India. We pay them BTC with almost zero fees using Lightening network. Nobody can stop those wonderful developers earning their sound money.

    Posted: 14 Jul 2021 03:30 AM PDT

    no time

    Posted: 13 Jul 2021 10:08 PM PDT

    "If you don't believe it or don't get it, I don't have the time to try to convince you, sorry."

    – Satoshi Nakamoto

    submitted by /u/living_space
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    Could cubans be the next to adopt bitcoin?

    Posted: 14 Jul 2021 01:09 AM PDT

    Remember you dont need an internet connection to transact bitcoin, which is something people forget when comparing bitcoin to alts.

    submitted by /u/cryptodgn
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    If Bitcoin is supposed to be a hedge against inflation, why is it now dropping in light of the CPI news, when gold is up?

    Posted: 13 Jul 2021 08:04 PM PDT

    I have around 0.5 BTC and I'm just curious about it. Not trying to hate on Bitcoin.

    submitted by /u/SecondToNothing
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    If there ever was a time...It would be Now

    Posted: 13 Jul 2021 12:44 PM PDT

    If there ever was a time for large corps to be buying up Bitcoins it would be now.

    Largest single inflation increase in 13 years.

    Holding stable between 30-35K

    Proven advantages

    Can now buy at a discount.

    Stack and HODL what you can now my friends. Time is on our side!

    submitted by /u/ALtBitKing
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    Grayscale Teams Up With BNY Mellon Making Ready The Bitcoin ETF

    Posted: 14 Jul 2021 02:03 AM PDT

    Grayscale, managing over $30 billion in digital assets is set to transfer fund account and administration functions for their flagship Bitcoin Trust to BNY Mellon in October. This is still in line with Grayscale's purpose of converting GBTC into a bitcoin ETF and BNY Mellon is dedicated to providing and servicing the growing digital currency asset class. Grayscale also hopes on getting bitcoin ETF approval from US regulators.

    submitted by /u/Zalkifl_Savage
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    California to send $600 stimulus payments to millions. brrrrrrrrrrrrrrrrrrr

    Posted: 13 Jul 2021 08:57 AM PDT

    Bitcoin’s Slump Could Be ‘Calm Before Storm’: Glassnode

    Posted: 13 Jul 2021 01:55 PM PDT

    Bitcoin Is More Energy Friendly Than U.S. Grid

    Posted: 14 Jul 2021 12:25 AM PDT

    Relaxing Michael Saylor speak about Bitcoin for 10 hours

    Posted: 13 Jul 2021 11:11 AM PDT

    Visa approves Australian Crypto startups to issue Debit Cards for Bitcoin transactions.

    Posted: 14 Jul 2021 01:40 AM PDT

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